Co-operative and Community Benefit Societies Act 2014 (c. 14)

Part 7 E+W+S Accounts, audit and annual returns

Books of account E+W+S

75 Duty to keep books of account etc E+W+S

(1) A registered society must ensure that proper books of account are kept with respect to its transactions and its assets and liabilities.

(2) The duty under subsection (1) includes a duty to ensure that there are kept such books as are necessary to—

(a) give a true and fair view of the state of the society's affairs, and

(b) explain its transactions.

(3) A registered society must establish and maintain a satisfactory system of control of its—

(a) books of account,

(b) cash holdings, and

(c) receipts and remittances.

76 Form of books of account E+W+S

(1) A registered society may keep a book of account by—

(a) making entries in bound books, or

(b) recording the matters in question in any other way.

(2) Where a book of account is kept otherwise than by making entries in a bound book, the society must take adequate precautions for—

(a) guarding against falsification, and

(b) facilitating its discovery.